§ 557. State capital grants. 1. The commissioner may in the name of\nthe state, (a) in the case of agencies which have contracted with the\nfederal government for a capital grant (or for a loan and grant) make or\ncontract to make, within appropriations therefor, a state capital grant\nto such agency to assist in carrying out one or more programs of urban\nrenewal;\n (b) in the case of agencies which have not made application to or\nentered into a contract with the federal government for advances, loans\nor grants with respect to a specific urban renewal project, make or\ncontract to make a state capital grant, within appropriations therefor,\nto such agency to assist in meeting the cost of surveys and plans for\nsuch project and the administrative and other related expenditures to be\nincurred in undertaking and completing such project.\n All contracts for such state capital grants shall be subject to\napproval by the state comptroller, and by the attorney general as to\nform. The commissioner may make advances or progress payments on account\nof any state capital grant contracted to be made pursuant to this\nsection and such advances or payments shall not constitute periodic\nsubsidies.\n 2. Any such state capital grant shall be in such amount, within\nappropriations therefor, as the commissioner, in his discretion, may\ndeem necessary to assist the agency in discharging its obligations in\nconnection with the programs for which the grant shall be made;\nprovided, however, that no such grant shall exceed one-half of the net\ncost of such program to the agency, exclusive of any federal aid or\nassistance, as such net cost shall be certified by the agency and\napproved by the commissioner. If the agency has not applied to or\nentered into a contract with the federal government for advances, loans\nor grants for a specific project, such grant shall not in any event\nexceed five hundred thousand dollars ($500,000).\n 3. No agency shall receive any such state capital grant until (a) the\nurban renewal plan has been approved by the governing body, (b) the\nprogram set forth in such plan has been certified as eligible for\nfederal assistance by the appropriate federal agency, or the governing\nbody has found that such federal financial assistance is not necessary\nfor the undertaking and successful completion of the program set forth\nin such plan, and (c) the governing body has attached its approval to\nthe grant contract. The commissioner may make temporary advances to such\nagency in anticipation of any such grant.\n 4. Notwithstanding anything contained in this section to the contrary,\nthe commissioner may in the name of the state, within appropriations\nheretofore or hereafter made for state capital grants to assist in\ncarrying out one or more local urban renewal programs, make or contract\nto make advances of funds to agencies, in anticipation of any such state\ncapital grant, to assist such agencies in preparing preliminary economic\nand physical plans for relocation housing, regulated by law or contract\nas to rents, for persons and families to be displaced by the urban\nrenewal program whose housing needs cannot be met by the unaided\noperations of private enterprise. Upon completion such plans shall be\nfiled with the commissioner.\n No such contract or advance shall be made (a) before an urban renewal\narea, to whose residents such relocation housing relates, has been\ndesignated pursuant to section five hundred four of this article; (b)\nunless the governing body has certified that the preparation of\npreliminary plans for such relocation housing is necessary to the making\nof a finding, pursuant to section five hundred five of this article, as\nto the existence of a feasible method of relocation; and (c) in excess\nof the lowest of the following amounts:\n (i) the actual cost of preparation of such preliminary plans;\n (ii) one-half of one per cent of the estimated construction cost of\nthe proposed relocatio
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